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Japan’s Nikkei index rose for the fourth consecutive session on Thursday as investors returned to buying distressed growth-related stocks, while Toyota Motor shares led the auto sector higher after announcing record monthly global sales.
The Nikkei rose 0.88 percent to close at 32,619.34 points, and the broader Topix index rose 0.80 percent to 2,332.00 points.
US stocks ended the session higher overnight after new economic data reinforced expectations that the Federal Reserve will stop raising interest rates in September.
Tokyo Electron, a manufacturer of chip-making equipment, rose 1.24 percent, and Advantest, a maker of chip testing equipment, rose 1.44 percent.
Toyota Motor shares jumped 2.38 percent after the company announced an eight percent increase in global sales during July to a record number of 859,506 cars.
Honda Motor shares rose 1.18 percent, and Nissan Motor shares increased 0.75 percent.
The auto sector index rose 1.89 percent, and became the most profitable among the sub-indices on the Tokyo Stock Exchange.
The brokerage companies index fell by 0.35 percent, recording the worst performance among sub-sectors, and the banking sector index fell by 0.19 percent.
The index of oil exploration companies fell 0.1 percent.
